Something changed in the global economic system in the 1990's that has led to asset inflation in nearly all major global cities. People buying are indebted for

Something changed in the global economic system in the 1990's that has led to asset inflation in nearly all major global cities. People buying are indebted for decades for more than 50% of their usually dual incomes and renters have equally large monthly outflows. This is global economic rent seeking in action. Wealth is not used for investment as economists insist but speculation and asset inflation led by banks being the main beneficiaries. The consistency and pattern of sharp increases across global cities cannot simply be a coincidence.